Pondering a new shale powerhouse
Shares of Concho Resources jumped yesterday on the heels of a Bloomberg report that ConocoPhillips might acquire the company.
It follows Chevron's deal to acquire the big independent producer Noble Energy announced in July (though that deal also provided Chevron new gas assets in the Mediterranean Sea).
And oil-and-gas producers Devon Energy and WPX Energy announced a merger in late September.
Go deeper: Analysts see potential Conoco-Concho deal as a 'strength-on-strength merger' (S&P Global Platts)